Epitope
This article was originally published in The Gray Sheet
Executive Summary
Receives $8.1 mil. from private placement with European investors, in which it issued 2.9 mil. warrants to purchase Epitope common stock at $14.875 per share. The warrants are set to expire 120 days after FDA approves Epitope's OraSure oral specimen collection device for HIV-1 screening, or 120 days after "the average sales price of Epitope common stock has been at least $30 for 20 consecutive trading days," or by Dec. 23, 1997. If the warrants are exercised, Epitope could receive up to $40 mil. At a Dec. 18 meeting, FDA's blood products advisory panel was unable to reach a consensus on the approvability of Epitope's PMA for Orasure ("The Gray Sheet" Dec. 21, p. 5)....